Today’s companies not only have to compete in a global marketplace, providing exceptional products and services, but they also have to be socially conscious. Therefore, to build positive brand names and corporate reputations, companies need to develop comprehensive CSR strategies. These are ways you can get the most out of your CSR.
Encourage Engagement from All Levels of the Organization
You will go nowhere with your social responsibility initiatives if you don’t have your executive team’s approval and engagement. These professionals need to approve the initiative, create a budget if necessary and participate in these strategies. However, although your senior executives need to buy into your CSR strategies, you also need every other person inside your organization to buy-in. When everyone in your company is engaged, you can encourage your customers to become engaged as well.
For example, your company may support a local charity. Your employees may volunteer and a portion of your sales may be donated. However, you can also encourage your customers and fans to donate to that same charity. Amazon does this with their Amazon Smile initiative, but they allow you to choose the charity your donations are sent to.
Build Your Initiatives into Your Business Strategy
You should focus on your core business. For example, your company may make socks and undergarments. Now, take that core business and find a socially responsible initiative. For example, you could donate undergarments to homeless shelters so that a percentage of your production is donated based on your sales. Not only does this encourage your customers to purchase more so more are donated, but it gives your company a great reputation of caring for those in need.
You could also do something that benefits your company and is still socially responsible. For example, you could start a massive recycling program to reduce your company’s waste. Although you may have to pay for some things to be recycled, some recycling, such as metals, will pay you.
Use your CSR initiatives to drive innovation in your company. You can invest in research and develop new products and services that result in socially responsible initiatives. Innovation drives sustainability. For example, you may develop products or services that have a social purpose. One example is finding ways to reduce your waste or energy consumption. Fairtrade policies and innovations in growing food products more efficiently are also good examples.
You can give your company a great socially responsible reputation by implementing CSR strategies that benefit your company, the environment, and your community.